Knowledge is Power
For decades, common financial planning wisdom has encouraged almost all American workers to maximize their contributions to qualified retirement accounts. Indeed, doing so can be a powerful way to reduce your current income tax liability, grow your savings exponentially tax-free, and, in most states, protect your savings from claims of creditors. And by and large,…
You just found out that your favorite aunt, Aunt Melba, has died. In the midst of your grief and sadness, you receive a notice from the attorney handling Aunt Melba’s affairs stating that you are a beneficiary. Your best friend advises you to get an attorney. What should you do? Will Aunt Melba’s attorney help…
An estate plan that includes a revocable living trust is an excellent way to protect yourself and your loved ones upon your passing or in the event you are unable to manage your own affairs. As opposed to other estate planning options, a revocable living trust gives you the ability to keep control of and…
The death of an iconic figure can sometimes impact us deeply because it reminds us of our shared humanity. With a celebrity’s passing, we realize that death is an equalizer. It also reminds us of the importance of estate planning to protect a person’s money and property. Estate planning is not reserved for those with…
A properly funded trust allows you to avoid probate, minimize taxes, provides organization, maintains control, and provides for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your trusted people what to do, when. While there are many types of trusts, the major distinction between…
Real estate encompasses not only one’s primary residence but also other real estate such as a vacation home or a rental property. The ideal form of ownership varies depending on the type of real estate you own. Below, we take a look at the different types of real estate and offer advice about the best…
Estate planning attorneys are occasionally asked by clients whether an estate plan can include a right of first refusal (ROFR) (sometimes called a first right of refusal) on certain items or parcels of property. The following example helps illustrate the way this legal tool is used and why it might be useful in your own…
We collect stuff throughout our lives. This “stuff” is known as our personal property. Some items are valuable, like jewelry, baseball cards, and works of art. Other items are sentimental, like grandma’s tea set, old Christmas ornaments, and photographs. Regardless of the value, it is important that these items be distributed the way you want…
When it comes to your healthcare, especially during these uncertain times, you need to ensure that two estate planning documents in particular are up to date. The first is your healthcare power of attorney. This document allows you to name a person to make medical decisions on your behalf or communicate your wishes in the…
